2 Lynn Park · Lima, OH 45805

$225,000

3 bd · 1.5 ba · 1,540 sqft · SingleFamily public records · 53 Days on market

Built 1963 $146/sqft · 27% above area Est $177k · 27% over

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Why this score? — see what drove the C- grade

The composite is a weighted blend of 9 inputs, each scored 0–100. Each bar is that input's sub-score; the figure is the points it added to the 100-point composite (weight × sub-score).

• Cash flow +25.2/30.0
• DSCR +8.3/10.0
• Schools +6.4/10.0
• 1% rule +6.1/10.0
• Livability +3.2/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• ARV discount +0.0/15.0
• Appreciation +0.0/10.0

Listing remarks MLS

Welcome to this very charming 3 bed, 2 bath ranch home located in a quiet cul-de-sac within Shawnee School District. This adorable home has a modern kitchen and tons of natural light. This home also offers a fenced-in yard and space for all your outdoor activities. Don't miss the opportunity to see this home. Schedule a showing today!

Key facts

• 2 garage spots
• Built 1963
• Listed 53 days

What this means for you Summary

Snapshot

• This is a 3-bed/1.5-bath single-family listed at $225k.

Deal economics

• At list price, monthly cash flow is $505 ($6k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $225k).
• Recommended offer: $218k (3.0% below list) — sets the bar for market timing.

Location & tenants

• Location reads 64/100 on livability (#787 in OH) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, health & safety A-; Watch: crime F, amenities F, commute F.
• Shawnee Local (suburban): math 71% / reading 77% proficiency, ranked #100 of 656 in OH (top 15%) — strong family-tenant draw, lease renewals of 3-5y typical.
• Market conditions: 106 active listings in the ZIP; 1 comparable units currently listed for rent nearby; 88 units permitted in Allen County in 2024 (0 in 5+ unit buildings).
• At $2,500/mo this rent would consume 45% of the median local household income ($66k/yr) — very limited rent-growth headroom before tenants either downsize or default.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $2k of loan paydown is wiped out by about $7k of value loss. Plan a longer hold.
• Allen County population projected at -14% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.

Negotiation context

• It's been on market 53 days — a 3% lower offer ($218k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts since 6y ago with the ask held roughly flat each time — persistent listings suggest the price (not the market) is what's stuck; bring a comps-based counter.
• Current owner paid $182k; 23% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Recommended offer $218,250 (3.0% below list)

Questions for the listing agent

1. It's been on market 53 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
2. Built in 1963 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. Crime grade is F in this area — have there been break-ins, vandalism, or insurance claims at this property in the last 3 years? What carrier currently insures it and at what premium?
5. What's the average days-on-market for RENTAL listings here right now (not sales)? A rising rental-DOM trend means longer vacancies and softer asking-rent achievability than the comps imply.
6. What's the recent tenant-quality profile in this submarket — average credit score on applications, eviction rate, late-payment / NSF rate, and stable-employment percentage? A property-management company in the area should have these aggregated.
7. How much new for-sale + rental construction is in the pipeline within 1–3 miles? Heavy new supply typically softens prices + rents 12–24 months out; constrained supply supports both.

Investment metrics

• 1% rule: 1.11% ✓
• Cap rate: 8.99%
• Cash-on-cash: 9.63%
• DSCR: 1.43
• GRM: 7.5

CMA / ARV

• ARV (median comp): $176,976
• List price: $225,000
• Delta: 27.14%
• Verdict: OVERPRICED
• Comps: 13 within 1.0 mi

Show comp detail 1 sale within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
215 Blackburn Dr	0.49mi	4/1.0 (+1)	1,322 (-14%)	10mo	$165,000	$125	39

Match score weights: distance 35% · size 25% · config 20% · recency 20%. Top-matched comps best support the ARV.

Projected returns pro-forma

-3.0% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: -1.8%
• Equity multiple: 0.93×
• Total profit: $-4,283
• Equity at exit: $33,548

10-year hold

• IRR: 7.9%
• Equity multiple: 1.60×
• Total profit: $37,663
• Equity at exit: $19,454

Cash invested: $63,000 (down + closing). Projections, not guarantees.

Landlord ↔ Tenant lean methodology

• Overall (STATE): 73 Landlord-Friendly
• State Ohio: 73 Landlord-Friendly · R+6
• County: — inherits STATE
• City: — inherits STATE

3-day notice; Cleveland / Columbus have some habitability code enforcement; otherwise landlord-leaning.

Methodology + full state rankings →

ZIP-level market 45805

• Active inventory: 106
• Price-to-rent: 7.5×

Monthly cashflow live

• Estimated rent: $2,500 medium
• Mortgage (P&I): −$1,180
• Tax from tax record: −$196 /mo · $2,351/yr
• Insurance: −$94
• HOA: −$0
• Vacancy / Maint / Mgmt: −$525
• Net cashflow: $505

Break-even live

Break-even rent $1,860

Max offer price $225,000

Occupancy floor 75%

Sensitivity live

Price	-10% $633	-5% $569	+0% $505	+5% $442	+10% $378
Rent	-10% $308	-5% $407	+0% $505	+5% $604	+10% $703
Rate	-1.0pp $619	-0.5pp $563	base $505	+0.5pp $447	+1.0pp $388

UW: 25.0% down · 7.5% · 30yr · 1.5% tax · 5.0% vac · 8.0% maint · 8.0% mgmt

Financing live

Cash to close

• Down payment: $56,250
• Closing costs: $6,750
• Reserves months: —
• Total cash needed: —

Rent comps 1 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
608 S Primrose Pl Lima, OH	3.0	2.0	1200	$2,500	$2.08	44d	1	0.79mi

Listing history 30 events

1. 2026-06-21
   days on market $225,000 Active 53 DOM
2. 2026-06-18
   days on market $225,000 Active 51 DOM
3. 2026-06-17
   days on market $225,000 Active 50 DOM
4. 2026-06-16
   days on market $225,000 Active 49 DOM
5. 2026-06-15
   days on market $225,000 Active 48 DOM
6. 2026-06-13
   days on market $225,000 Active 46 DOM
7. 2026-06-12
   pricedays on market $225,000 Active 45 DOM
8. 2026-06-09
   days on market $235,000 Active 42 DOM
9. 2026-06-08
   days on market $235,000 Active 41 DOM
10. 2026-06-08
    days on market $235,000 Active 40 DOM
11. 2026-06-07
    days on market $235,000 Active 39 DOM
12. 2026-06-04
    days on market $235,000 Active 36 DOM
13. 2026-06-02
    days on market $235,000 Active 35 DOM
14. 2026-06-01
    days on market $235,000 Active 34 DOM
15. 2026-05-31
    days on market $235,000 Active 33 DOM
16. 2026-05-05
    historical Active Under Contract 336-char remark

    Show marketing remark (336 chars)

    Welcome to this very charming 3 bed, 2 bath ranch home located in a quiet cul-de-sac within Shawnee School District. This adorable home has a modern kitchen and tons of natural light. This home also offers a fenced-in yard and space for all your outdoor activities. Don't miss the opportunity to see this home. Schedule a showing today!

17. 2026-04-28
    listed $235,000 Active 336-char remark

    Show marketing remark (336 chars)

    Welcome to this very charming 3 bed, 2 bath ranch home located in a quiet cul-de-sac within Shawnee School District. This adorable home has a modern kitchen and tons of natural light. This home also offers a fenced-in yard and space for all your outdoor activities. Don't miss the opportunity to see this home. Schedule a showing today!

18. 2026-04-22
    historical $235,000 336-char remark

    Show marketing remark (336 chars)

    Welcome to this very charming 3 bed, 2 bath ranch home located in a quiet cul-de-sac within Shawnee School District. This adorable home has a modern kitchen and tons of natural light. This home also offers a fenced-in yard and space for all your outdoor activities. Don't miss the opportunity to see this home. Schedule a showing today!

19. 2024-07-15
    soldstatus $182,500
20. 2024-07-12
    soldstatus $182,500 Closed 463-char remark

    Show marketing remark (463 chars)

    Welcome to this charming ranch-style home nestled in a quiet cul-de-sac within the highly sought-after Shawnee school district. This updated gem boasts a modern kitchen with stylish finishes, newer windows that fill the home with natural light, and an updated bathroom that adds a touch of luxury. The fenced-in yard provides privacy and a safe space for outdoor activities. Don't miss the opportunity to own this warm and inviting home. Schedule a showing today!

21. 2024-05-12
    status Pending 463-char remark

    Show marketing remark (463 chars)

    Welcome to this charming ranch-style home nestled in a quiet cul-de-sac within the highly sought-after Shawnee school district. This updated gem boasts a modern kitchen with stylish finishes, newer windows that fill the home with natural light, and an updated bathroom that adds a touch of luxury. The fenced-in yard provides privacy and a safe space for outdoor activities. Don't miss the opportunity to own this warm and inviting home. Schedule a showing today!

22. 2024-05-10
    listed $189,900 Active 463-char remark

    Show marketing remark (463 chars)

    Welcome to this charming ranch-style home nestled in a quiet cul-de-sac within the highly sought-after Shawnee school district. This updated gem boasts a modern kitchen with stylish finishes, newer windows that fill the home with natural light, and an updated bathroom that adds a touch of luxury. The fenced-in yard provides privacy and a safe space for outdoor activities. Don't miss the opportunity to own this warm and inviting home. Schedule a showing today!

23. 2020-05-07
    soldstatus $127,000
24. 2020-05-07
    soldstatus $127,000
25. 2020-03-24
    listed $132,500
26. 2017-10-12
    soldstatus $90,000
27. 2009-03-04
    soldstatus $85,000
28. 1998-04-08
    soldstatus $73,500
29. 1993-05-20
    soldstatus $58,900
30. 1992-06-24
    soldstatus $54,900

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Tax reassessment forecast OH · Partial reset (capped growth)

• Current annual tax: $2,351 · $196/mo
• Projected year-2 tax: $2,930 · $244/mo
• Expected delta: +$580/yr (+$48/mo · 24.7%)

ⓘ Screening estimate from a state-policy table — verify with the county assessor before closing.

Climate risk First Street

• 🌊 Flood 1/10 Low FEMA zone X (unshaded) · 0% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 3/10 Moderate 7 d/yr ≥100°F today · 18 d/yr by 30 yrs out
• 💨 Wind 2/10 Low
• 🫁 Air quality 2/10 Low 1 unhealthy d/yr today · 2 by 30 yrs out

Taxation est. · year 1

• Rental income: $30,000
• − Mortgage interest: −$12,603
• − Property taxes: −$2,351
• − Insurance: −$1,125
• − Repairs & maintenance: −$2,400
• − Management: −$2,400
• − Depreciation: −$6,545
• Taxable income: $2,575
• Est. tax owed @ 24.0%: −$618
• After-tax cash flow: $5,447/yr

For passive investors: Depreciation is non-cash, so a rental often shows a tax loss while cash-flowing — sheltering income. Rental losses are passive: they offset passive income freely, and up to $25,000/yr can offset ordinary (W-2) income if you actively participate and your MAGI is under $100k (phasing out to $0 by $150k); unused losses carry forward. On sale, claimed depreciation is recaptured at up to 25%, and gains may owe capital-gains tax (a 1031 exchange can defer both). Figures are a year-1 estimate at your 24.0% rate — not tax advice; consult a CPA.

Schools (NCES district)

• District: Shawnee Local
• NCES district ID: 3904579
• Math proficiency: 71% ▼ -9.00%
• Reading proficiency: 77% ▼ -4.00%
• Median HH income: $61,634
• Composite: 63.78/100
• National rank: #597
• State rank: #100 of 656 in OH

Livability — Lima

• Score: 64/100
• State rank: #787
• US rank: #14288

Category grades

Amenities F Commute F Cost of living A+ Crime F Employment F Housing A+ Health & safety A- User ratings C

Schools grade is shown separately in the Schools card above.

Census & demographics

• County: Allen · 98,169 people
• City population: 21,739
• Metro: Lima, OH
• Population (ZIP): 24,746
• Household income: $65,954
• Rent vs Own: 36.3% rent · 63.7% own
• Severe rent burden: 8.0

Population outlook (Allen County) Hauer SSP2

• Today (2025): 100,321 people
• By 2030: 97,693 · -2.6%
• By 2040: 91,802 · -8.5%
• By 2050: 86,152 · -14.1%
• By 2075: 73,659 · -26.6%
• By 2100: 58,716 · -41.5%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (74%)
• Race & ethnicity: White 74% Black 15% Two or more races 6% Hispanic / Latino 4% Asian 1%
• Common ancestry: Italian 2% Slovak 2% Romanian 2%
• Foreign-born: 2% · Canada, Vietnam
• Languages at home: 96% English-only · Spanish 1% Vietnamese 1%

Political lean MEDSL · Allen

• 2024 margin: Solid R (+44.1) · D 27.5% · R 71.6%
• 2008→2024 swing: -23.4pp toward R · 2008: -20.7pp · 2024: -44.1pp
• All cycles: 2024: R+44.1 2020: R+39.5 2016: R+38.2 2012: R+25.7 2008: R+20.7

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -156.78%
• Current HPI: 210.6397
• Rent YoY: —
• Metro: —
• State GDP YoY: ▲ 1.98%
• F500 in state: 48

Industry mix (Fortune 500 HQ in OH)

Industry	F500 HQs	Revenue
▸Insurance	3	$145B
▸Industrial Machinery	3	$49B
▸Financial Services	3	$24B
▸Consumer Goods	2	$93B
▸Aerospace / Defense	2	$47B
▸Utilities	2	$33B

Price history

+328.1% since first listed

15 events — show timeline

• 2026-05-05 Contingent — WCARE
• 2026-04-28 Listed $235,000 WCARE
• 2026-04-22 Coming Soon $235,000 WCARE
• 2024-07-15 Sold (Public Records) $182,500 Public Records
• 2024-07-12 Sold (MLS) $182,500 WCARE
• 2024-05-12 Pending — WCARE
• 2024-05-10 Listed $189,900 WCARE
• 2020-05-07 Sold (Public Records) $127,000 Public Records
• 2020-05-07 Sold (MLS) $127,000 WCARE
• 2020-03-24 Listed $132,500 WCARE
• 2017-10-12 Sold (Public Records) $90,000 Public Records
• 2009-03-04 Sold (Public Records) $85,000 Public Records
• 1998-04-08 Sold (Public Records) $73,500 Public Records
• 1993-05-20 Sold (Public Records) $58,900 Public Records
• 1992-06-24 Sold (Public Records) $54,900 Public Records

Property tax history

+4.8%/yr

Latest (2025): $2,351 · -0.1% YoY. Source: county tax records.